Bitcoin ETFs: Another Step Towards Institutional Mania
Our Wayne Lloyd shares thoughts via The Trade Crypto.
On 30 September the Securities and Exchanges Commission (SEC) is set to rule on a recent application, submitted by Cboe to trade Bitcoin exchange traded funds (ETFs); though there are already suggestions that any decision may now be postponed until next February.
An ETF would allow investors the opportunity to indirectly purchase Bitcoin as an underlying asset rather than having to purchase a physical Bitcoin, offering investors ‘institutional standard’ protection, which is a far more secure and user-friendly way to buy and sell digital currencies. Approval should bring much more affluent customers to the crypto marketplace, such as mutual funds and pension funds.
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